BUY OUT OFFER REJECTED
Ezra Levine is the CEO of Collectable
We are writing to update you on the results of the 48-hour shareholder survey following the increased buyout offer on our Tom Brady 2000 Playoff Contenders BGS 9 Basket – 2x.
As you know, Collectable received an offer to acquire the item for $170,000 following the February 2021 IPO of $90,000.
Inclusive of Collectable’s equity interests in the offering and broker dealer transaction fees, Collectable would return approximately $9.05 net price per share, if shareholders accept the offer. This represents a 81% return over the IPO price ($5/share) and a 6.47% net premium over last traded price on Collectable’s secondary market ($8.50/share).
On a share weighted basis, 65% decided to DECLINE the buyout offer.
As a result, the offer has been declined and the asset will remain on Collectable’s secondary market.
Trading will resume tomorrow at 3pm ET.
All the best,